Russia’s central bank says when rate can be cut

 Russia’s central bank says when rate can be cut

Russia’s central bank may cut its key interest rate as soon as late 2019 if the economy develops in line with forecasts, the bank’s head of monetary policy department Alexey Zabotkin said.

He added that the central bank will need to assess at a board meeting this month if the two rate increases it carried out in 2018 would be enough to keep inflation in check.

In addition, Zabotkin said that inflation trends are currently below the central bank’s base scenario, adding that it was now less likely that annual inflation would accelerate to 6% this year - as the bank had previously predicted, Reuters reported.

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